Bill > SB282

This bill amends the Fair Business Practices Act of 1975 to establish comprehensive regulations for earned wage access services (EWA), which allow workers to receive a portion of their earned but unpaid wages before their regular payday. The bill defines key terms such as "consumer," "earned but unpaid income," and "provider," and establishes detailed requirements for EWA service providers. Providers must develop consumer complaint procedures, offer at least one no-cost option for accessing wages, fully disclose fees, allow consumers to cancel services without penalty, and comply with privacy and information security laws. The bill prohibits providers from charging excessive fees (capped at $5 or 5% per transaction), reporting consumer information to credit agencies, compelling payment through legal action or debt collection, and charging late fees or interest. Importantly, the bill clarifies that these services are not considered lending activities or money transmission, and fees are not considered interest. The bill provides consumer protections by requiring transparent fee disclosures, preventing unfair collection practices, and ensuring consumers can access their earned wages with minimal financial burden. The new regulations will apply to EWA service agreements entered into or renewed on or after July 1, 2025, giving providers time to adjust their practices to comply with the new law.

Agriculture and Natural Resources

https://www.legis.ga.gov/legislation/70924